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We have an elderly client whose only income is the state pension. The pension is 'covered' by her personal allowances and she does not have a tax liability.
Last July, the pension office wrote to our client informing her that it had miscalculated her pension for the last five years. She received a large lump sum from the pension office together with an enhanced monthly pension. The pension office has sent a complete summary of all years showing the increased pension.
We have an elderly client whose only income is the state pension. The pension is 'covered' by her personal allowances and she does not have a tax liability.
Last July the pension office wrote to our client informing her that it had miscalculated her pension for the last five years. She received a large lump sum from the pension office together with an enhanced monthly pension. The pension office has sent a complete summary of all years showing the increased pension.
If we show the large lump sum of pension arrears on her tax return for the year ending 5 April 2007 there will be tax to pay. However if the pension had been paid in the correct years the pension would still have been covered by personal allowances.
Would HMRC accept revised tax returns going back all the years based on the...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
